In October 2001 common securities legislation became effective in the eight countries comprising the Eastern Caribbean Currency Union, namely, Anguilla, Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat, St Kitts and Nevis, Saint Lucia, and St Vincent and the Grenadines (Member Territories). This event witnessed the birth of the Eastern Caribbean Securities Market (ECSM). The ECSM facilitates the dealing in securities across these jurisdictions.
The Eastern Caribbean Securities Regulatory Commission Agreement between the Member Territories was passed into law as a schedule to the primary legislation. The purpose of this Agreement is “to promote the development of and to provide for the regulation of a regional securities market … and to establish the Eastern Caribbean Securities Regulatory Commission (ECSRC) as an independent and autonomous regional regulatory body.”
The ECSRC is a body corporate responsible for the regulation of the securities market, exchanges, persons engaged in securities business and the public issue of securities in the MemberTerritories and is accountable to the Monetary Council of the Eastern Caribbean Central Bank.
